As smaller meme coins such as Bonk (BONK) and Pepe (PEPE) rise in value, speculation is growing about whether it could potentially surpass Shiba Inu (SHIB) as the world’s second-largest meme coin.
While that seems unlikely at this point, new projects like Meme Kombat (MK) and Wall Street Memes (WSM) have emerged on traders’ radars as two micro-cap stocks that have the potential to disrupt the status quo.
Can BONK or PEPE flip a Shiba Inu?
BONK and PEPE have both gained double digits over the past week, with BONK up more than 1,000% over the past 30 days.
Given the interest in both meme tokens, traders are considering whether SHIB could be flipped in the market cap rankings.
For context, SHIB currently has a market cap of over $5.8 billion with 589 trillion tokens in circulation.
In comparison, PEPE has a market cap of $656 million and 417 trillion tokens in circulation.
As for BONK, its market capitalization is even lower at $456 million, with a circulation of only 12 trillion.
Therefore, for any upstart looking to flip SHIB, a certain level of exponential growth is required.
If SHIB maintains its current market cap, BONK would need to increase 13x from its current price to reach that level.
This would require the price of BONK to surge to around $0.0005, which seems unlikely considering the token is no longer receiving attention.
Alternatively, a 10x increase for PEPE would result in a market cap of $6.5 billion, surpassing SHIB.
However, this is still significantly lower than Dogecoin’s (DOGE) market cap of $14.5 billion.
Ultimately, the chances of BONK or PEPE surpassing SHIB any time soon are slim, given the significant growth required.
What other memecoins could surge?
Whether BONK or PEPE takes the second spot, both tokens seem to be on the right track.
Now, let’s take a look at some of the lesser-known memecoins that could potentially gain traction and even rally.
Meme Kombat offers AI-powered mascot battles
Meme Kombat is a crypto gaming platform featuring AI-powered battles between iconic mascots.
Although Meme Kombat has not received much attention so far, it could follow in the footsteps of BONK and PEPE in the future.
This includes low market capitalization and scarcity due to a limited supply of tokens.
Specifically, Meme Kombat allows players to bet on the outcomes of battles between characters like Doge, Wojak, and Pepe the Frog.
The AI system uses advanced technology to generate battles where only one Meme Coin character can win.
MK token holders can stake their tokens on the outcome of the contest — with rewards available for accurate predictions.
This gamified approach is already resonating with investors, given that Meme Kombat’s presale has now raised over $2.5 million.
The project is also led by founder Matt Whiteman, who has extensive experience building projects in the web3 space.
Meme Kombat even ranked third on ICOBench.com, a website that tracks and ranks upcoming cryptocurrencies.
Due to its smaller market cap, token economics, and appeal to meme coin traders, Meme Kombat could be a coin to watch in 2023.
Wall Street memes disrupt the game
Another lesser-known meme coin is Wall Street Memes, which could follow in the footsteps of BONK and PEPE.
Wall Street Meme has more than 1 million followers on platforms like Instagram and Twitter.
The project’s native token, WSM, has also come under surveillance after the project raised over $25 million during its presale.
WSM is now listed on multiple exchanges with a market cap of $46.4 million.
The main use case for the token is within the Wall Street Memes Casino, which offers thousands of games for users to bet on and has received high ratings on comparison sites such as Rakeback.com.
The Wall Street Memes team also uses 10% of the net revenue from casino games for WSM buybacks and destruction.
Over 2.5 million WSM tokens have been destroyed by the community, with developers also destroying $100,000 per day for three consecutive days starting December 4.
As more Meme Coin and GambleFi enthusiasts discover the project, Wall Street Memes will likely see more growth.
The token could also follow in the footsteps of BONK and PEPE if there is the right catalyst.
